NMDC Group, a global leader in engineering, procurement, construction and marine dredging based in Abu Dhabi, announced Thursday it signed a contract valued at $610.1 million with Pasay Harbor City Corp. (PHCC) to undertake large-scale dredging and land reclamation activities in Manila Bay.
The contract, a first large-scale project for NMDC Group in the Philippines, covers a 30-month period and encompasses the reclamation of about 130 hectares of island as part of a development to build a new eco-friendly, waterfront city.
The project’s scope includes sand supply, dredging and reclamation, vertical drains installation, vibro compaction and rock placement.
NMDC Group CEO Yasser Zaghloul said the move is part of the company’s strategic push towards diversified, global growth and expansion into Southeast Asia.
“We take pride in applying NMDC Group’s world-class expertise to contribute to innovative, sustainable projects, which create value for communities and industries alike,” Zaghloul said in a statement posted on the company’s website.
Pasay Harbor City Corp. president Manuel Gonzales expressed delight about the partnership. “We look forward to partnering with NMDC to fulfill our vision of creating a new eco-friendly, waterfront city,” Gonzales said.
The group, which is made up of five business units, adds the Philippines to its growing project portfolio of activities in Asia, which have included several projects across Taiwan, Vietnam and Malaysia.
